Swiss Town Accepts Bitcoin for Public Services

A town in Switzerland has begun to accept Bitcoin payments for certain city services. The northern town of Zug decided to allow Bitcoin payments earlier this month for public services as a part of a trial run.

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A town in Switzerland has begun to accept Bitcoin payments for certain city services. The northern town of Zug decided to allow Bitcoin payments earlier this month for public services as a part of a trial run.

The municipality services will be capped at 200 francs worth of Bitcoin, and include services like public utilities.

The trial run will extend through the end of 2016, and is intended to assess the long-term economic viability of accepting cryptocurrency for public services.

“Zug would have to show that there are clear advantages (or at least, few drawbacks) to taking Bitcoin at municipal offices. The technology is secure and can lower transaction costs, but that has yet to be proven on this kind of government scale.”